Employee Training – A Wise Investment

employee training programOne of the most important aspects of small business management is the manpower. This is where the business operation and the business success relies. If the manpower is weak, it is not possible to achieve the goals and plans of the company. Entrepreneurs are already aware that in order for their business to succeed, they must select and hire the right people.

But most often than not, employees are raw in terms of the knowledge regarding your business. That is why staff training should be implemented so that your employees will get the chance to update their skills and learn more about your business.…

Continue reading

Hiring A Management Consultant

hiring management consultantsSmall businesses tend to overlook the importance of hiring a management consultant; they don’t realize that big businesses are into this kind of stuff because they know that this can greatly affect the return of investment.

Yes, you heard it right, management consulting can play an important role in increasing the rate of return on your investment. This is something that small businesses do not typically understand.

For your information, big businesses are hiring management consultants at every level of their operation everyday. It might be a liability at first glance because you need to shell out cash for this, but third party help is needed to increase the profitability of the business.…

Continue reading

Software Needed For Managing A Small Business

small business softwareIt can be overwhelming sometimes to see a lot of tasks that need to be done for your business. Sometimes you can manually do the tasks but they often lead to added pressure and stress. The solution for this is to find software specifically designed to do some of these tasks and help eliminate the burden. Many business managers are on the lookout for software that can help them do the tasks while improving their business.

There are several web based applications where you can be able to work remotely for your business. You can do your tasks even when you are away from your office.…

Continue reading

13 Mistakes That Can Jinx Your Business

13 small business mistakesDespite a modest-to-invisible economic rebound in the U.S., conditions remain precarious for millions of small business owners in all areas and industries. With economic headlines shouting one big problem after another, we’re conditioned to think about economic dangers in grandiose terms – the calamity that cripples and possibly sinks a business, whether it’s a giant oil company, or a local restaurant.

But the path to ruin is more often paved with small missteps, rather than a single cataclysmic event. Here are 13 mistakes that individually might not be life threatening to your business, but together can be terminal:

1. Hoarding Information.

Continue reading

Cost Cutting Your Business Expenses

business cost cutting expensesExpenses can be a burden for any particular company. This is something that a business owner cannot avoid. Of course, the prerequisite for a business to operate is start up capital. You can’t manage and operate a business from an empty pocket. You need to shell out money in order to start your business operation.

Since expenses cannot be eliminated, entrepreneurs must find a way to at least lessen the cost required for business operation. A successful business knows how to control the costs. Manage your business in such a way that every small detail of your expenses will be recorded and you’re spending at the smallest possible cost.…

Continue reading

Managing Business In A Creative Way

creative thinking for businessManaging a business can be difficult, heavy and stressful. But, it should not be boring. It is important that you are enjoying what you are doing in business, and that should include the managerial tasks. You should always come up with a business operation and management plan which can be carried out effectively and in the most creative way possible.

Strategies must be implemented to enhance the creativity of managing a business. Creativity is the key to breaking the chain of boredom and unproductive business management. This is even agreed upon by 1,500 chief executives according to the survey conducted by IBM’s Institute for Business Value.…

Continue reading

3 Success Strategies for Small Businesses

success strategiesWith the recent financial crisis showing signs of clearing up, many small businesses are now looking to fortify their fortunes and make up for the losses they suffered over the past two years. While some find success an uphill climb, others seem to be able to breeze through the process simply because they know what makes the difference and what counts at the end of the day.

So if you’re a small business, here’s what you need to do to chalk out your strategy for long-term success:

“¢ Make customer service your USP: You may be on the same playing field as the big boys in the business and the rules of the game may remain the same.…

Continue reading

Running a Global Business on a Shoestring

operating a global business on a budgetBusinesses today need to look beyond geographical borders in order to expand. There is a whole world of consumers, customers and clients out there waiting to buy your service or product. Opportunities aplenty await the astute businessman willing to take the risk and go global.

Going Global“ does not need to be expensive.   It’s relatively straightforward and cost-effective to target foreign markets if you are astute enough and cost conscious enough. Neil Payne set up his business on a laptop in a studio flat in 2004. He now oversees a company with offices in the UK, USA, Argentina, South Africa, Germany and the UAE.…

Continue reading

Guarding Your Balance Sheet – Tips for Survival in Today’s Volatile Market

saving money in a down economyAs the recession continues to extend into 2010, we continue to be inundated by news about the challenges that face the small business community.

While we are not completely out of the woods in terms of the economy, there are several things that small business owners can do to protect their businesses during these challenging times:

Manage Collections: Outstanding invoices should be aggressively followed up on round-the-clock. Having unpaid invoices will create instability. Be aggressive and assume the worst.

Collect Upfront: Make sure that all of your contracts stipulate payment upfront. Net 30 can stretch into Net 60, then you are stuck doing work for 2-3 months without being paid.…

Continue reading

Searching For A New Bank To Suit Your Business Needs

searching for a new bankThere aren’t many good news stories about banks these days so if you’re looking for a new bank you may be facing the quagmire of what to look for and who to turn to when searching for a new bank. The answer may rest upon what your personal and or business banking needs are.

For business owners, entrepreneurs and consumers seeking personal guidance, it is important to recognize that your relationship with your bank is extremely important.  This is one relationship that requires serious time and examination.

I believe the examination process is twofold. On one side of the equation you’ll want to look at the financial stability and business model of the bank to ensure it can provide the financial strength and safety needed to stay in business and serve your needs in a favorable manner to you.…

Continue reading